There are moments or experiences that make you reassess your life. For John and Mandy Ahern it came from a 400-day trip across Europe and into Africa in an old campervan with their two young children. It changed how they thought about life.
If your 18-year-old self could see you now, what would he/she think? Would your 18-year-old-self recognise you? Be proud of you? See him/her self in you—or not recognise you at all?
There’s more evidence of growth in the number of those returning to the workforce after retirement. Research shows that up to a quarter of retired Britons are ‘unretiring’ (their word) and going back into the workforce.
There’s a rule within journalism that a report is considered complete if the 5W questions are answered. The 5Ws are: who; what; where; when; and why. You can adapt the same questions for your retirement planning.
Earlier this year, 53-year-old hospital worker Mavis Wanczyk phoned her boss and told him she wouldn’t be back at work. Ever. She’d just won the biggest, undivided lottery jackpot in US history. The problem is that Mavis has a 70 per cent chance of losing it all within a few years.
Retirement can be one of the most difficult of life’s transitions because it’s a step back (or down) compared to other transitions. The change from school to work, from single to married, even job changes can mean more responsibilities. In contrast, retirement is a letting go. The transition may be difficult, but there are ways to minimise the issues.
Lynda Gratton and Andrew Scott don’t call it crazy, but compared to what we have now the retirement they see coming seems at least strange. Gratton and Scott are both professors at the London Business School and, in their book The 100-Year Life, they suggest that we need to prepare for exactly that—a 100-year-long life.
When more than 1000 couples were asked how much they need to save to maintain their current lifestyle in retirement almost half had ‘no idea’. And, significantly, most couples weren’t on the same page about the amount needed. As a couple preparing for retirement, these are the kinds of things that need to be talked about. For your retirement’s sake and for your relationship’s sake.
‘People who work very hard need to start building up other interests to make their retirement work.’ That’s the advice from Professor Gordian Fulde.
I’ve seen people who have retired without having a plan, and mostly, it isn’t a pretty sight. When I asked a clinical psychologist friend what she thought could be the major problem for those who retired without planning, ‘Anxiety and depression’, was her immediate answer.